Location: Chugach Census Area, AK | Metro: Chugach Census Area, AK
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,180 |
| 1 Bedroom | $1,550 |
| 2 Bedrooms | $1,690 |
| 3 Bedrooms | $2,340 |
| 4 Bedrooms | $2,780 |
| 5 Bedrooms | $3,225 |
| 6 Bedrooms | $3,612 |
| 7 Bedrooms | $3,901 |
| 8 Bedrooms | $4,096 |
U.S. Census Bureau data (2024)
The ZIP code 99677 is characterized by a modest rental population, with only 14.3% of residents being renters. This indicates that the area is primarily homeowner-dominated, which could suggest that the demand for housing vouchers under the Section 8 program might be relatively low compared to areas with higher percentages of renters.
The median household income in this ZIP is $49,063, a figure that is crucial when considering the financial capabilities of potential tenants. However, without specific data on the market rent for the area, it's challenging to accurately determine what percentage of local income goes towards typical rent payments. The Fair Market Rent (FMR) for the area, as determined by HUD for fiscal year 2026, is set at $1,520. This value represents the maximum amount that a Section 8 tenant can pay toward their rent, which is a key consideration for landlords.
To put this into perspective, if we assume that the typical rent in the area aligns closely with the FMR, then the average rent payment would consume approximately 31% of the median household income ($1,520 / $49,063 * 100 = 30.97%). This suggests that rents in 99677 are somewhat affordable relative to income, but still represent a significant portion of monthly earnings.
A landlord in ZIP 99677 can expect to attract tenants who rely on Section 8 vouchers to afford housing. These tenants will have a household income that is less than 50% of the Area Median Income (AMI), as per HUD guidelines. Given the FMR of $1,520, a landlord should prepare for tenants who can contribute up to this amount, depending on their individual income and family size.
In conclusion, while the rental population is not particularly heavy in this ZIP, the income levels suggest that there is a segment of the population that could benefit from and utilize Section 8 vouchers. Landlords should be prepared to cater to a tenant base that requires financial assistance to cover rent costs, ensuring compliance with HUD regulations and understanding the financial dynamics at play.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.